The US-based financial services firm JP Morgan offered to fund projects in Iraq during talks with its Prime Minister Mohammed Al-Sudani in Baghdad on Tuesday.
Sudani met a delegation headed by the JP Morgan Vice Chairman Daniel Zelikow at a Conference on Reforming the Iraqi Banking Sector.
A statement by Sudani’s office said the meeting explored opportunities to deepen cooperation in banking and financial services, including JP Morgan’s potential role in funding investment projects in Iraq.
The two sides discussed “mechanisms for securing financial credits and transfers to ensure they reach their recipients in Europe and the United States, it said.
“Al-Sudani stressed the importance of expanding partnerships between Iraqi banks and JP Morgan…he also emphasised the government’s full readiness to provide all forms of support to strengthen this relationship,” the statement said.
“JP Morgan’s delegation, in turn, expressed interest in expanding its footprint in Iraq’s financial system, confirming plans to increase correspondent accounts for local banks and expressing willingness to finance projects directly or through financial partners.”
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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